Bank Nifty in the red

Despite PSU banks doling out interim dividends, the bank stocks are under some pressure with the Bank Nifty down by about 17 points in the morning trade.

Among the big losers were BoB and Axis Bank and BoB had announced a hefty Rs 11 an interim dividend payout. There were four bank stocks that were in the green, while six were in the red.

Axis Bank was the biggest loser, shedding Rs 17 to trade at Rs 1,135.95 and BoB lost Rs 9.55 to trade at Rs 618.80.

Among the others to trade in the red were

ICICI Bank down by Rs 3.50 to trade at Rs 1,031.05 and PNB that eased by Rs 3.40 to Rs 593.50.

HDFC Bank was up by Rs 3.40 at Rs 668.40, YES Bank had gained Rs 2.05 to Rs 353.20, IndusInd Bank was up by 65 paise to Rs 424 and SBI edged up by Rs 1.95 to Rs 1623.50.

The CNX Bank Nifty was down by about 17 points.